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Must-See Video Showing Crony Capitalism At Its Lowest

By: scipio62 (Diary)  |  February 12th, 2010 at 08:38 AM  | 

RESIZE: AAA

If you’re prescribed blood pressure medication, take it now before watching.

As Ace points out, there is math in the video. Don’t let it worry you and stay with it. In fact, the math is what sets the point made in the video in complete context.

Before you see it, remember who is in charge of the Treasury. Remember who had been previously in charge of the Treasury. Note who else is mentioned in the video.

It’s about 7:30am CT where I’m at and Happy Hour is already going. You might as well start yours as well.

Go now to ThinkBigWorkSmall.

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  • Common_Cents

    It’s one thing if FDIC is selling insolvent bank portfolios at a discount into stronger private hands. It’s another for them to use original loan amount as basis for loan loss sharing program funded by taxpayers, instead of the discounted price basis paid by investor.

    It’s pure taxpayer rip off arbitrage while adding fuel to the real estate fire by discouraging any loan work outs. Nothing but corrupt big government crony capitalism.

    This is why big government fails. It only serves those well connected big moneyed people on the inside.

    John Paulson
    George Soros
    Michael Dell
    ex Goldman guy setting up the deal.

    I think the FDIC has more “loss sharing” with other banks as well.

    AmWest who took over IndyMac as well reported profits of $495 million in their 2nd quarter of operation. I’d really like to see their financials on how much taxpayer “loss sharing” contributed.

    Combine this with the Goldman Sachs incest with big government. GS is no longer a hedge fund or a bank as it is a computerized rip off scam many times bigger than Madoff. Co-locating computers with exchange computers, front running client orders with high frequency trading. Disgusting perversion of “free market capitalism”. All courtesy of big government regulation that breeds big government whores being bought off.